Banks Near Foreclosure Settlement

Banks are hashing out a $10 billion settlement with federal regulators to halt a lengthy process of reviewing thousands of foreclosure cases for errors, after both sides concluded it was too expensive and not delivering enough assistance, according to people familiar with the discussions.

The potential agreement, which has yet to be completed, came after large banks voiced concerns with a process set up by the Office of the Comptroller of the Currency and the Federal Reserve over foreclosure-related abuses that surfaced more...